The Asian Institute of Chartered Bankers (AICB) has launched FSF Xcel, Malaysia’s first industry-wide digital skills assessment platform for the financial sector. This initiative benchmarks workforce capabilities and accelerates upskilling, supporting Malaysia’s transition to a sustainable financial ecosystem.
Building on the Future Skills Framework (FSF) introduced in 2024, FSF Xcel offers structured, industry-validated assessments to identify skill gaps and future-proof talent strategies. Covering 159 job roles and 157 critical skills, it combines technical capabilities and behavioural competencies. Developed with Accendo Technologies, the platform integrates global best practices with local expertise.
With the financial sector contributing 6.7% to Malaysia’s GDP and employing around 167,000 professionals, FSF Xcel aligns with Bank Negara Malaysia’s Financial Sector Blueprint 2022–2026 to cultivate a digitally fluent and innovative workforce, enhancing talent readiness for a digital economy.
Edward Ling, Chief Executive, Asian Institute of Chartered Bankers, said:
“FSF Xcel is more than a skills assessment platform — it is a catalyst for transformation. By equipping both employees and employers with data-driven insights to identify, measure, and strengthen their capabilities, it fosters a culture of continuous learning and professional excellence. Developed for the industry, with the industry, FSF Xcel reflects our shared commitment to building a resilient, competitive, and future-ready financial workforce.”
YBhg. Datuk Dr Yvonne Chia, FCB, Chairperson of the MyMAHIR Future Skills Talent Council – Financial Sector and AICB Council Member, added:
“In a world where nearly 40% of today’s skill sets are expected to evolve or become obsolete by 2030, FSF Xcel empowers financial institutions to respond with agility and foresight. It reinforces Malaysia’s position as a regional hub for skilled, versatile, and innovative financial professionals.”
Sharma Lachu, Founder and CEO, Accendo Technologies, said:
FSF Xcel proves that vision can be translated into action. We are confident that Accendo’s partnership with AICB will drive the impetus for an industry-wide Digital Talent Passport, allowing individuals and organisations to thrive in this ever-changing world.
The AICB’s 2025 Workforce Baseline Study reported a 68% response rate from 99 financial institutions, indicating a strong demand for a standard digital assessment platform, with 96% of respondents interested in closing skill gaps. Approximately 40,000 employees are anticipated to see their roles change due to automation, emphasizing the need for targeted upskilling and reskilling.
These insights echo the World Economic Forum’s Future of Jobs Report 2025, which indicates that 39% of current skills may become obsolete by 2030 and cites skill gaps as a major barrier to business transformation in Malaysia.
The FSF Xcel initiative will be implemented gradually across financial institutions starting Q4 2025, with collaboration from Bank Negara Malaysia (BNM), Accendo Technologies, industry associations, and educational partners.